Kraft Heinz has announced plans to split into two companies, reversing the $46 billion merger that created one of the largest food companies in the world. The first company will focus on shelf-stable meals, including brands like Heinz, Philadelphia, and Kraft mac and cheese, while the second company will house North American staples such as Oscar Mayer and Kraft singles. This decision comes as Kraft Heinz aims to allocate resources more effectively and drive long-term shareholder value by unlocking the potential of each brand.